Conyers provided Bermuda law and Cayman law advice to Li & Fung Limited (the “Company”) in connection with its HK$7.2 billion privatisation by way of scheme of arrangement by Golden Lincoln Holdings I Limited.
The Company manages complex supply chains for some of the world’s biggest retailers and brands worldwide, including Calvin Klein and Tommy Hilfiger. It was founded in 1906 and was listed on the OTC Market in 1973 (OTCMKTS: LFUGY).
Consultant David Lamb and Legal Manager Yvonne Lee of Conyers’ Hong Kong office advised on the matter working alongside Kirkland & Ellis, Freshfields Bruckhaus Deringer, and Davis Polk.
David Lamb said “Naturally the scheme was made more challenging because the scheme was conceived in the early days of the Covid-19 lockdown, both in Hong Kong and Bermuda. This is one of the first schemes where the Supreme Court of Bermuda permitted the Company to have the option of holding a fully electronic court meeting, with no physical presence, to approve the Scheme. The co-operation and teamwork amongst the working group was exemplary.”
This matter was nominated at the ALB Hong Kong Law Awards 2020 for M&A Deal of the Year.